Morgan Sindall’s affordable housing unit Lovell has secured a £269m contract from the Royal Borough of Greenwich in the UK to transform three Woolwich council estates.
The project will transform three council estates located to the east and west of Woolwich town centre into 1,500 new mixed-tenure homes.
As per the plans, Connaught, Morris Walk, Maryon Road and Grove estates, which occupy about 12ha of land, will be redeveloped.
The scheme will create 975 new homes for open market sale, 375 homes for affordable rent and 150 homes for shared ownership.
Lovell will carry out the project in partnership with asra Housing Group, which will be responsible for the management of the new shared ownership and affordable rent homes.
The homes will be built according to Level 4 of the Code for Sustainable Homes.
Construction work is scheduled to commence in May 2014 and is anticipated to take 13 years to complete.
Royal Borough of Greenwich Cabinet Member for Housing Steve Offord said the redevelopment of the three Woolwich Estates represents an important part of ongoing plans to transform Woolwich and the Royal Borough.
"The scheme, which will be subject to major public consultation and the full planning process, will provide much needed quality homes and new public spaces for new and expanding communities," Offord said.
"The development will be greatly enhanced by ongoing investment in transport, including two new Crossrail stations, new businesses of all sizes, new homes elsewhere in the Royal Borough and much improved educational and community facilities."
Lovell regional director Peter Taylor said the company will be working with residents, the Royal Borough of Greenwich and asra Housing Group to deliver the regeneration programme, which will bring affordable housing to the area along with new community facilities and infrastructure, generating employment and training opportunities.
Earlier in 2013, Lovell secured contracts from the Greater London Authority to develop a £63.3m mixed-tenure housing scheme at Lymington Fields in the Chadwell Heath area of Dagenham, UK.
Image: The project will transform three council estates located to the east and west of Woolwich town centre. Photo: Courtesy of Lovell.